Docusign (NASDAQ:DOCU) had its price objective boosted by research analysts at Wedbush from $48.00 to $59.00 in a report released on Friday. The brokerage presently has a “neutral” rating on the stock. Wedbush’s target price indicates a potential upside of 2.93% from the company’s previous close.
A number of other equities research analysts also recently issued reports on DOCU. Zacks Investment Research downgraded shares of Docusign from a “hold” rating to a “sell” rating in a research report on Thursday, December 27th. Piper Jaffray Companies boosted their price objective on shares of Docusign from $50.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday. Deutsche Bank cut their price objective on shares of Docusign to $50.00 and set a “hold” rating for the company in a research report on Friday, December 7th. Goldman Sachs Group started coverage on shares of Docusign in a research report on Thursday, December 13th. They set a “neutral” rating and a $45.00 price objective for the company. Finally, Morgan Stanley reaffirmed a “hold” rating on shares of Docusign in a report on Sunday, December 9th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $61.75.
Shares of DOCU stock traded down $1.53 during mid-day trading on Friday, reaching $57.32. 5,968,102 shares of the company’s stock traded hands, compared to its average volume of 2,256,592. Docusign has a 12 month low of $35.06 and a 12 month high of $68.35. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.91 and a quick ratio of 2.91.
Docusign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). The firm had revenue of $199.73 million for the quarter, compared to analysts’ expectations of $193.63 million. The firm’s quarterly revenue was up 34.2% on a year-over-year basis. Sell-side analysts forecast that Docusign will post -2.5 EPS for the current year.
In other Docusign news, Director Keith J. Krach sold 51,982 shares of the stock in a transaction dated Friday, December 21st. The shares were sold at an average price of $40.34, for a total transaction of $2,096,953.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Loren Alhadeff sold 12,000 shares of the stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $54.35, for a total transaction of $652,200.00. The disclosure for this sale can be found here. Insiders sold a total of 814,317 shares of company stock valued at $39,150,912 in the last ninety days.
Several institutional investors and hedge funds have recently added to or reduced their stakes in DOCU. Accel London III Associates L.P. bought a new position in shares of Docusign during the 4th quarter valued at about $98,230,000. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Docusign by 60.1% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,087,761 shares of the company’s stock valued at $203,917,000 after buying an additional 1,909,833 shares in the last quarter. FMR LLC raised its position in shares of Docusign by 40.6% during the 4th quarter. FMR LLC now owns 5,343,427 shares of the company’s stock valued at $214,165,000 after buying an additional 1,544,047 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of Docusign during the 4th quarter valued at about $56,620,000. Finally, Morgan Stanley raised its position in shares of Docusign by 539.1% during the 3rd quarter. Morgan Stanley now owns 1,148,284 shares of the company’s stock valued at $60,366,000 after buying an additional 968,599 shares in the last quarter. 54.41% of the stock is owned by institutional investors and hedge funds.
Docusign Company Profile
DocuSign, Inc provides cloud based transaction products and services in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. It serves large enterprises, sole proprietorships, small- to medium-sized businesses, professionals, and individuals.
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